Montana Long Term Incentive Compensation Plan of A.M. Castle and Co.

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-181
• Format: Word; Rich Text

Description

20-181 20-181 . . . Long Term Incentive Compensation Plan under which Human Resources Committee designates employees who will be participants in Plan and establishes Maximum Award Percentage with respect to each participant for each three year performance cycle. Each participant is entitled to a Performance Award if annual compounded total return (based upon stock appreciation and deemed reinvestment of dividends) on corporation common stock for that performance cycle equals or exceeds 1.5% plus annual compounded total return on common stock of Standard & Poor's 500 Industrials for such period. A participant's Performance Award for a performance cycle is amount equal to product of (a) participant's base salary multiplied by (b) his Maximum Award Percentage multiplied by (c) applicable Attainment Percentage for that performance cycle The Montana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and incentivize employees for their long-term contributions to the company's success. This plan is specifically tailored to motivate and retain top talent by offering attractive incentives beyond their regular compensation packages. With a focus on the long-term growth of the company, the Montana Long Term Incentive Compensation Plan ensures that employees are aligned with the organization's goals and objectives. The Montana Long Term Incentive Compensation Plan encompasses various types of incentive compensation structures to cater to the diverse needs and preferences of employees. Some key types of this plan include: 1. Stock Options: This component of the plan provides employees with the opportunity to purchase company shares at a predetermined price, typically below the market value. Stock options serve as a powerful motivator as they allow employees to participate in the company's success and benefit from its potential growth. 2. Restricted Stock Units (RSS): Under this type of plan, employees are granted a certain number of RSS, which are company shares that are subject to certain restrictions. These restrictions are usually time-based, and once the vesting period is complete, employees gain full ownership of the RSS. 3. Performance Shares: Performance shares are awarded to employees based on specific pre-determined performance targets and goals. The value of these shares is tied to the company's performance against these predetermined metrics, encouraging employees to work towards achieving organizational objectives. 4. Phantom Stock: Phantom stock is a non-equity-based incentive compensation plan that offers employees a cash bonus based on the company's performance. Although participants do not actually own shares in the company, they receive a payout equivalent to the increase in the stock's value over a specific period. Each type of incentive compensation plan within the Montana Long Term Incentive Compensation Plan provides a different structure and opportunity for employees to benefit from the company's success. These plans aim to align the interests of employees with shareholders, fostering a sense of ownership and dedication to the long-term growth and profitability of A.M. Castle and Co. In summary, the Montana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program offering different types of incentives, such as stock options, RSS, performance shares, and phantom stock, to motivate and retain top talent. By implementing these tailored compensation structures, the company aims to ensure its employees are invested in the organization's success and aligned with its long-term goals.

The Montana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive program designed to reward and incentivize employees for their long-term contributions to the company's success. This plan is specifically tailored to motivate and retain top talent by offering attractive incentives beyond their regular compensation packages. With a focus on the long-term growth of the company, the Montana Long Term Incentive Compensation Plan ensures that employees are aligned with the organization's goals and objectives. The Montana Long Term Incentive Compensation Plan encompasses various types of incentive compensation structures to cater to the diverse needs and preferences of employees. Some key types of this plan include: 1. Stock Options: This component of the plan provides employees with the opportunity to purchase company shares at a predetermined price, typically below the market value. Stock options serve as a powerful motivator as they allow employees to participate in the company's success and benefit from its potential growth. 2. Restricted Stock Units (RSS): Under this type of plan, employees are granted a certain number of RSS, which are company shares that are subject to certain restrictions. These restrictions are usually time-based, and once the vesting period is complete, employees gain full ownership of the RSS. 3. Performance Shares: Performance shares are awarded to employees based on specific pre-determined performance targets and goals. The value of these shares is tied to the company's performance against these predetermined metrics, encouraging employees to work towards achieving organizational objectives. 4. Phantom Stock: Phantom stock is a non-equity-based incentive compensation plan that offers employees a cash bonus based on the company's performance. Although participants do not actually own shares in the company, they receive a payout equivalent to the increase in the stock's value over a specific period. Each type of incentive compensation plan within the Montana Long Term Incentive Compensation Plan provides a different structure and opportunity for employees to benefit from the company's success. These plans aim to align the interests of employees with shareholders, fostering a sense of ownership and dedication to the long-term growth and profitability of A.M. Castle and Co. In summary, the Montana Long Term Incentive Compensation Plan of A.M. Castle and Co. is a comprehensive rewards program offering different types of incentives, such as stock options, RSS, performance shares, and phantom stock, to motivate and retain top talent. By implementing these tailored compensation structures, the company aims to ensure its employees are invested in the organization's success and aligned with its long-term goals.